Indian stock market daily morning report (May 20, 2014, Tuesday)

- Markets ended at record closing highs on Monday, amid aggressive institutional buying in cyclicals and policy-reform oriented sectors, with the BJP-led NDA keeping economic growth as its top priority.

The 30-share Sensex ended up 241 points at 24,363 and the 50-share Nifty ended up 61 points at 7,264.

- Eight IT shares fell by 0.44% to 3.71%, in the intraday trade, on BSE after the rupee rose to its strongest levels in 11 months against the dollar yesterday.

- Shares of 12 companies whose fortunes are linked to orders from Indian Railways rose by 4.70% to 20%, in the intraday trade, on BSE after Narendra Modi-led Bharatiya Janata Party swept the country's Lok Sabha elections on Friday, 16 May 2014.

- Adani Enterprises jumped 4.54%, in the morning trade, to Rs 555.00 on BSE after consolidated net profit spurted 501.08% to Rs 2,847.82 crore on 38.89% growth in total income to Rs 16,418.67 crore in Q4 March, 2014 over Q4 March, 2013.

- Jaiprakash Power Ventures closed 30.24% up at Rs 23.73 on BSE after the company said its board approved seeking shareholders' nod for raising funds upto Rs 3,000 crore.

- Among the 12 BSE Sectoral indices, - indices closed in positive while 4 indices ended the day in negative. Top Gainers: BSE Power up by 10.15% and BSE Capital Goods by 8.34%. Top Losers: BSE IT down by 4.95% and BSE FMCG by 4.00%.

Market breadth was sharply positive at ~3.00 as investors bought large cap stocks. On provisional basis, FII's bought Rs 13.50bn worth of Indian equities and DII's sold Rs 3.48bn worth of equities. The ratio of NSE Total Market Capitalization to GDP (at Current Prices) stands at 293.3%.

Buzzing Stocks

- HDFC Bank rose 2.93%, in the afternoon, to Rs 828.25 on BSE after the bank's board approved to raise the equity share capital of the bank up to an aggregate sum of Rs 10,000 crore including share premium amount.

- Cadila Healthcare closed 1.43% down at Rs 899.00 on BSE, with the stock extending Friday's 3% slide triggered by the company reporting weak Q4 earnings.

- SpiceJet closed 10.70% up at Rs 16.55 on BSE after the company reported net loss of Rs 321.51 crore in Q4 March, 2014, higher than net loss of Rs 185.71 crore in Q4 March, 2013.

- Hindalco Industries closed 7.76% up at Rs 152.05 on BSE after the company's US subsidiary Novelis reported its Q4 results on Friday, 16th May, 2014.

- Suven Life Sciences closed 3.96% up at Rs 86.65 on BSE after the company said it secured three product patents in Australia, South Korea and China.

- GMR Infrastructure closed 16.96% up at Rs 33.10 on BSE after the company said it has achieved commercial operation of the balance highway of 15 KM of Hungund - Hospet road project on National Highway 13.

- Century Textiles and Industries closed 9.33% up at Rs 456.20 on BSE on report Kumar Mangalam Birla will directly purchase a 16% stake in the company.

- Jayant Agro-Organics closed 10.97% down at Rs 103.50 on BSE after consolidated net profit fell 37.45% to Rs 4.76 crore on 16.75% decline in total income from operations to Rs 394.49 crore in Q4 March, 2014 over Q4 March, 2013.

- JK Cement closed 19.68% up at Rs 300.45 on BSE after net profit surged 35.93% to Rs 76.3- crore on 7.92% growth in total income from operations to Rs 832.71 crore in Q4 March, 2014 over Q4 March, 2013.

- Sintex Industries closed 18.32% up at Rs 81.05 on BSE after the company said it has allotted 1.64 crore equity shares at Rs 69.01 per share to promoter group companies on the exercise of the option of conversion of warrants.

- Tata Communications closed 3.74% up at Rs 304.80 on BSE after the company announced next steps in proposed Neotel and Vodacom transaction.

- Jubilant FoodWorks closed 3.10% up at Rs 1,191.20 on BSE after net profit declined 23.72% to Rs 24.95 crore on 18.57% growth in total income to Rs 436.0- crore in Q4 March, 2014 over Q4 March, 2013.

- Tata Global Beverages closed 4.08% , up Rs 150.55 on BSE after the company said its UK-based subsidiary has acquired a 100% stake in the equity capital of Australia's Bronski Eleven.